Petrotrin refinery shut down

[toyolink]

The restart of a viable refinery operation is more than welcomed.
Reconciliation of the values and culture of a trade union with those of a profit oriented business is extremely difficult to manifest and this venture's success possibilities is subject to the resultant risks.
One can only be hopeful for the benefit of many.

[sMASH]

So OWTU have 700mili usd in an account stashed away...nice nice

probably they found some lying around in a starbucks, or a massey stores somewhere.
i want them to state who their backers are..

[The_Honourable]

The country is truly in a state of shock with this decision to accept the offer of the OWTU for both the refinery and Paria Fuel trading. The questions I will ask are as follows:

1. Was this a political decision or an economic decision?

2. Where is the OWTU sourcing $US700 million and who is going to supply that money to them?

3. Why the need for a 3 year moratorium on payments ? So our plant and equipment will be utilized for three years and depreciated before we get a red cent ?

4. What is the cost of starting the refinery after it's been down for a year and neglected since 2015?

5. How is the refinery going to compete against US refineries which are getting cheap shale gas and cheaper crude oil and are in their golden age.

6. What is the role of Trafigura in this entire deal ? They were mentioned by the Minister of Finance in his statement.

7. Will the refinery be subject to the same rates of corporation tax that Petrotrin paid ?

8. Are we saying that the OWTU will now have the sole right to supply the country with fuel? How does that affect out energy security?

Kevin Ramnarine - https://www.facebook.com/kevinramnarinr ... 8686642743

[Redman]

If the justification for the union getting the nod is that they offered 700M to buy-then how is there a moratorium???

And not just a moratorium-but one that leads to a financed pay off?

[Rovin]

what d govt gonna build with that huge windfall - ah next stadium ? , wonder how much kickbacks some of dem getting from this

i dont trust d owtu at all too .......

[teems1]

what d govt gonna build with that huge windfall - ah next stadium ? , wonder how much kickbacks some of dem getting from this

i dont trust d owtu at all too .......

Windfall?

That should go back to paying off the GTL fiasco loan.

[zoom rader]

Why don't you all connect the dots

Its not 99% money

[pugboy]

I read owtu getting Paris fuel trading in the deal,
So owtu in charge of fuel supply to the country?
A scary thought.

[rspann]

The voice that would have strongly opposed shitkickers will now be silent.

[speedmelter]

This country is on the brink of collapse.. I don’t think most people are noticing it

[zoom rader]

The voice that would have strongly opposed shitkickers will now be silent.

They were always a PNM trade union since Mc left.

Nearly all trade unions are sub divisions of PNM

[zoom rader]

This country is on the brink of collapse.. I don’t think most people are noticing it

The following people don't think so

One eye
Randolphinshan
Redman
Mero
Eliteauto
Dwane

And Rohan spann

[pugboy]

yuh put spann separate,
like he is a 1%

[rspann]

Nah. Growlers doing a good job. The country happppy.

[rspann]

yuh put spann separate,
like he is a 1%

Ent you know ah 1percenter adopt mih?

[zoom rader]

Nah. Growlers doing a good job. The country happppy.

Refinery safe and PNM victory thanks to the non 99%

In the stock market they call this shorting a share with insider trading

A win win while you loose

[rspann]

This country is on the brink of collapse.. I don’t think most people are noticing it

The following people don't think so

One eye
Randolphinshan
Redman
Mero
Eliteauto
Dwane

And Rohan spann

You only fraid that if Growlers run the country for one more year, people go hadda eat grass and yuh cows going to suffer for food.

[zoom rader]

This country is on the brink of collapse.. I don’t think most people are noticing it

The following people don't think so

One eye
Randolphinshan
Redman
Mero
Eliteauto
Dwane

And Rohan spann

You only fraid that if Growlers run the country for one more year, people go hadda eat grass and yuh cows going to suffer for food.

I have a venny seeing about dem cow now and so dem PNM ppl vex

[bluefete]

I hope you are ready to read this.


GR Rampersad
5 hrs

In October,2018 it was reported that the Oilfield Workers’ Trade Union (OWTU) has had a change of heart. And will do so with foreign partners.

The union’s partners in this new proposal are Suriname-based investment bank SunStone Equity and MAK England LLC, a commodities trader with operations in the US, UK and UAE.

SunStone was reportedly responsible for creating a financial model for the acquisition of Petrotrin that was “acceptable to the government and the people of TT.” MAK will provide the crude oil needed to run the refinery as well as provide management.

Given the Rowley led PNM government decision to sell the Petrotrin refinery to Patriotic Energies and Technologies Company Limited, one must wonder if SunStone is involved in the deal.

I would like to ask if SunStone Equity is directly or indirectly involved in the contract arrangement.

SunStone Equity Nv (SunStone) is a Caribbean private investment Fund platform chartered in the Republic of Suriname, South America. Surinam is an independent Dutch speaking country located between Guyana (west), French Guiana (East) and Brazil ( to the South) and a full member of Caricom.

☆☆☆SunStone was established in January, 2015 under Suriname law.

SunStone provides private investment fund platforms. Our services are to sovereign, private and corporate clients worldwide in a protected environment supervised by a Trustee. SunStone maintains offices in both Surinam and Trinidad & Tobago.

Trinidad Acquisition done by SunStone Equities 2015

​SunStone Equities NV the acquired 35%equity in Zircon Minerals Ltd, a sales and Marketing company specializing in silica & Aggregate distribution in Trinidad & Tobago. It is "guesstimated" that CAD will sell over 1.2 million tons of Silica and 500,000 tons of aggregate by the end of 2018-19.

SunStone recently announced the formation of a daughter concern, United Merchant Services Ltd, a Trinidad & Tobago company, that will provide affordable merchant processing services for merchants both in the Caribbean and beyond Annual sales are anticipated above 600 million annually, which will give UMS a volume price advantage in needs to extend savings to its clients and enhance the performance of the fund

☆☆☆The Chinese connection.

SunStone CEO, John E. van Dyke has joined the Unison group of Trinidad & Tobago. Unison is a consulting firm whom through strategic relationships helps guide large scale infrastructure and social housing projects to success in the region. It acts as a liaison group between government, private enterprise and two of China's largest companies, China Railroad and China Harbor. At present projects in Grenada, Tobago, Trinidad and Suriname are being evaluated.

Chinese companies have been the centre of questionable ethics behaviour Bangladesh which blacklisted a top Chinese construction firm for allegedly trying to bribe a senior government official and stopped its work in the country.

In 2018, China Harbour Engineering was publicly accused of offering a bribe to a government official in connection with a highway construction project in Bangladesh.

The World Bank debarred China Railway Construction Corporation and its wholly owned subsidiaries, China Railway 23rd Bureau Group Co and China Railway Construction (International), for nine months recently, citing misconduct during the procurement process for the ‘East-West Highway Corridor Improvement Project’ in Georgia.

In August 2019 the World Bank blacklisted six Chinese companies currently operating in Nigeria over alleged fraud and corruption.

The companies, according to an announcement published on the World Bank’s website, are CCECC Nigeria Railway Company Limited, CRCC Petroleum and Gas Company Limited and CCECC Nigeria Company Limited.

Others are China Railway Construction (International) Nigeria Company Limited, China Railway 18th Bureau Nigeria Engineering Company Limited and CCECC Nigeria Lekki (FTA) Company Limited.

Companies involved in World Bank projects including contracts are obliged to adhere strictly to the guidelines, which stipulate a high level of ethics and frowns on all manner of fraud and corruption including bribery and misappropriation of funds.

[zoom rader]

^^^ its called shorting a share and its a form of insider trading with no legal repercussions.

Was a set up ever since PNM stole the last election. Owtu played with the devil and PNM won elections

US and UK watching this very closely

[Redman]

^^^ its called shorting a share and its a form of insider trading with no legal repercussions.

Was a set up ever since PNM stole the last election. Owtu played with the devil and PNM won elections

US and UK watching this very closely

Shorting a share?
A form of insider trading ?

How you get that from the article?

I was told that Sunstone is not part of the mix any more.

2 cos Solomon and LLoyds are involved as of now.


That article makes no connection between anything -but I guess it feeds a frenzy for those so inclined.

[boxy]

The country is truly in a state of shock with this decision to accept the offer of the OWTU for both the refinery and Paria Fuel trading. The questions I will ask are as follows:

1. Was this a political decision or an economic decision?

2. Where is the OWTU sourcing $US700 million and who is going to supply that money to them?

3. Why the need for a 3 year moratorium on payments ? So our plant and equipment will be utilized for three years and depreciated before we get a red cent ?

4. What is the cost of starting the refinery after it's been down for a year and neglected since 2015?

5. How is the refinery going to compete against US refineries which are getting cheap shale gas and cheaper crude oil and are in their golden age.

6. What is the role of Trafigura in this entire deal ? They were mentioned by the Minister of Finance in his statement.

7. Will the refinery be subject to the same rates of corporation tax that Petrotrin paid ?

8. Are we saying that the OWTU will now have the sole right to supply the country with fuel? How does that affect out energy security?

Kevin Ramnarine - https://www.facebook.com/kevinramnarinr ... 8686642743

Man remove heself from the equation yes. Since he leave office petrotrin neglected. Lol

[pugboy]

Take care they turn around the refinery and start to make billions like when mittal take over ispat

[Redman]

The country is truly in a state of shock with this decision to accept the offer of the OWTU for both the refinery and Paria Fuel trading. The questions I will ask are as follows:

1. Was this a political decision or an economic decision?
Both probably-2019 Trinidad seems to conflate the two.All parties make the decisions based on the politics-thats why we in the sheeeit

2. Where is the OWTU sourcing $US700 million and who is going to supply that money to them?
As KR knows fully well...this type of transaction is assembled.So OWTU would have had sight of the data as all other pre qualified bidders.Based on that they would have found financiers that indicated they would be willing to finance the project...and under what conditions

3. Why the need for a 3 year moratorium on payments ? So our plant and equipment will be utilized for three years and depreciated before we get a red cent ?
This I would love to know

4. What is the cost of starting the refinery after it's been down for a year and neglected since 2015?
Isnt that Patriotics problem.

5. How is the refinery going to compete against US refineries which are getting cheap shale gas and cheaper crude oil and are in their golden age.
The same way it would have to compete with the US under any other circumstances.Domestic use is about 60% of the output of the refinery-so thats a captive market-as transportation costs are relevant in this business

6. What is the role of Trafigura in this entire deal ? They were mentioned by the Minister of Finance in his statement.
Probably exactly what they were doing 2010-2015

7. Will the refinery be subject to the same rates of corporation tax that Petrotrin paid ?
This should be disclosed-but its not unreasonable for concessions to be given to encourage investment

8. Are we saying that the OWTU will now have the sole right to supply the country with fuel? How does that affect out energy security?
Uh the OWTU has always been a major factor -strike =shut down of refinery.At least now-with the information at hand they have fat in the fire and need to keep the refinery profitable

Kevin Ramnarine - https://www.facebook.com/kevinramnarinr ... 8686642743

[vaiostation]

Probably it's for the best that OWTU get the refinery for its remaining life span, cause our two main political parties weren't going to do anything constructive with it besides adding their supporters to the company's payroll and seriously handicapping the company.
Hopefully now the company can be adequately staffed and operated, with workers earning a fair days wage.

[sMASH]

argument AGAINST shutting it down inthe first place.

[bluefete]

Ah HEAR Rowley is an alleged partner in this new venture.

His partner at the 2 ends of the alphabet is also allegedly a partner.

But yuh know how lawyers could hide true ownership in shell companies etc.

[zoom rader]

Take care they turn around the refinery and start to make billions like when mittal take over ispat

Eh no ,

Ispat was injun

Owtu is..........

[kstt]

Government distract everyone with OWTU deal for Petrotrin and everybody forget about the Chinese HDC contract compensation.

[The_Honourable]

Social media activist seeks details on bids



So­cial me­dia ac­tivist Suzette Louwe, through her at­tor­ney Emir Crowne, is seek­ing de­tails on the bids and eval­u­a­tions that led to the Pa­tri­ot­ic En­er­gy and Tech­nolo­gies Com­pa­ny Ltd (PET­CL) top­ping the bid­ders list to ob­tain the Pointe-a-Pierre re­fin­ery.

The PET­CL is whol­ly owned by the Oil­field Work­ers Trade Union (OW­TU) and on Fri­day Fi­nance Min­is­ter Colm Im­bert an­nounced that they were the pre­ferred bid­der to pur­chase the re­fin­ery for US$700 mil­lion.

The PET­CL beat out Be­owulf En­er­gy and Klesh En­er­gy to take the top spot.

But Louwe sought more de­tails on what led to that se­lec­tion.

Ac­cord­ing to the three-page fil­ing made on Sat­ur­day, Louwe sought the in­struc­tions to all bid­ders for the sale and/or lease of the Pe­teotrin re­fin­ery, the bid doc­u­ments of Be­owulf En­er­gy, Klesch and Pa­tri­ot­ic En­er­gies and Tech­nolo­gies Com­pa­ny Ltd and the work­ing notes, notes, drafts min­utes and/or min­utes of Cab­i­nets eval­u­a­tion com­mit­tee for the sale and/or lease of the Petrotrin re­fin­ery and of the Cab­i­net meet­ing that ap­proved the sale and or lease to Pa­tri­ot­ic.

The let­ter was sent to the Cab­i­net, at the Of­fice of the Prime Min­is­ter in St Clair.

On so­cial me­dia yes­ter­day, Louwe post­ed the doc­u­ments and re­ceived praise for her FOIA.

Louwe of­ten takes the Peo­ple's Na­tion­al Move­ment to task on her so­cial me­dia page. Most re­cent­ly, she lev­elled crit­i­cism at Prime Min­is­ter Dr Kei­th Row­ley over the can­celled hous­ing con­tract with the Chi­nese con­trac­tors, call­ing it "crook­ery".

Source: https://guardian.co.tt/news/social-medi ... 3bd1091a21